Ripple has taken a major step in expanding the institutional appeal of its enterprise-grade stablecoin, RLUSD, by selecting BNY as its official reserve custodian.
The move was announced on July 9 and is part of Ripple’s broader push to cement RLUSD’s role in regulated financial infrastructure.
BNY , a global financial giant with deep experience in digital asset custody and transaction services, will now oversee RLUSD’s cash reserves. The bank’s integrated banking solutions will also support Ripple’s operational functions, strengthening the stablecoin’s credibility among institutional users.
Ripple’s stablecoin strategy is focused on meeting the demands of enterprise clients seeking reliable tools for cross-border payments. RLUSD, pegged 1:1 to the U.S. dollar, is backed by segregated reserves of cash and cash equivalents. Its design prioritizes speed, cost efficiency, and regulatory compliance—key needs for businesses conducting international settlements.
This isn’t Ripple’s first strategic banking partnership. Earlier this year, the firm teamed up with Switzerland’s AMINA Bank to offer RLUSD custody and trading services in Europe, bringing the token into a regulated banking environment. The dual partnerships reflect Ripple’s ongoing effort to bridge traditional and decentralized finance.
Meanwhile, RLUSD’s adoption is accelerating. The token’s circulating supply has now surpassed $501 million—$435 million on Ethereum and $65 million on the XRP Ledger. Approved by New York regulators in late 2024 and recently greenlit by the Dubai Financial Services Authority, RLUSD is gaining traction in key jurisdictions.
By aligning with major institutions like BNY, Ripple is positioning RLUSD as a trusted tool for global enterprise transactions—not just another retail stablecoin in a crowded market.
Alexander Zdravkov
Reporter at Coindoo
Alexander Zdravkov is passionate about questions of meaning. He is a fluent German speaker as well as He has been in the crypto space for more than three years and has an eye for spotting emerging trends in the world of digital currencies. Whether providing in-depth analysis or reporting on all topics on a daily basis, his deep understanding and enthusiasm for what he does makes him a valuable addition to the team.
Source: https://coindoo.com/ripple-expands-rlusd-strategy-with-major-bank-partner/